Welcome to the forum. You will need to read your clauses in your Ford agreement to see if having an iva causes issues when looking for a new car.
Equally you will need to ensure your monthly payments are the same as now or lower to show continued affordability to your IP.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Also check your IVA agreement to see if you have to put the car payments across when the lease is up.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi and welcome, agree with the others, have a read of your proposal, it may state at month x, payments will increase. If you swapped the car for another, would they credit check again? I'm not sure what Ford Scheme is?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi. I assume your current lease is up for renewal and have to echo the thoughts of the others. There are several potential pitfalls, as mentioned. If the lease is not up for renewal, and you merely wish to change vehicles, it might be better to bide your time until the IVA is done and dusted, rather than open a can of worms.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
